Steven Madden (NASDAQ:SHOO) Hits New 1-Year High on Analyst Upgrade
by Sarita Garza · The Markets DailySteven Madden, Ltd. (NASDAQ:SHOO – Get Free Report) shares reached a new 52-week high on Monday after Needham & Company LLC raised their price target on the stock from $45.00 to $52.00. Needham & Company LLC currently has a buy rating on the stock. Steven Madden traded as high as $47.11 and last traded at $46.4970, with a volume of 12936 shares traded. The stock had previously closed at $46.15.
A number of other equities analysts have also commented on SHOO. Weiss Ratings reissued a “hold (c)” rating on shares of Steven Madden in a research report on Tuesday, April 21st. UBS Group reaffirmed a “neutral” rating and set a $40.00 price objective (up from $38.00) on shares of Steven Madden in a report on Monday, April 27th. Zacks Research upgraded shares of Steven Madden from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 8th. BTIG Research restated a “buy” rating and set a $50.00 price target on shares of Steven Madden in a report on Thursday, June 4th. Finally, Wall Street Zen upgraded Steven Madden from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $45.13.
Insider Transactions at Steven Madden
In other news, Director Arian Simone Reed sold 648 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $39.97, for a total transaction of $25,900.56. Following the completion of the transaction, the director owned 8,057 shares of the company’s stock, valued at approximately $322,038.29. This represents a 7.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christina Ciglar sold 5,147 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $44.74, for a total transaction of $230,276.78. Following the completion of the sale, the insider owned 35,200 shares of the company’s stock, valued at approximately $1,574,848. The trade was a 12.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 6,270 shares of company stock valued at $276,992 in the last ninety days. 2.21% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of SHOO. EverSource Wealth Advisors LLC lifted its position in Steven Madden by 86.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the textile maker’s stock worth $25,000 after purchasing an additional 485 shares during the period. Los Angeles Capital Management LLC bought a new stake in Steven Madden in the 4th quarter valued at $30,000. Global Retirement Partners LLC increased its holdings in Steven Madden by 1,064.3% in the 4th quarter. Global Retirement Partners LLC now owns 815 shares of the textile maker’s stock valued at $34,000 after buying an additional 745 shares during the period. First Horizon Corp raised its stake in shares of Steven Madden by 55.1% in the 4th quarter. First Horizon Corp now owns 892 shares of the textile maker’s stock valued at $37,000 after buying an additional 317 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Steven Madden by 79.4% during the 4th quarter. Farther Finance Advisors LLC now owns 983 shares of the textile maker’s stock worth $41,000 after acquiring an additional 435 shares during the period. 99.88% of the stock is currently owned by institutional investors and hedge funds.
Steven Madden Stock Down 0.2%
The company has a current ratio of 2.23, a quick ratio of 1.42 and a debt-to-equity ratio of 0.30. The business’s fifty day moving average price is $40.06 and its 200 day moving average price is $40.03. The company has a market capitalization of $3.37 billion, a P/E ratio of 43.93 and a beta of 1.15.
Steven Madden (NASDAQ:SHOO – Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The textile maker reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.03. The firm had revenue of $653.10 million during the quarter, compared to analyst estimates of $646.64 million. Steven Madden had a net margin of 2.89% and a return on equity of 12.29%. The company’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.60 earnings per share. Steven Madden has set its FY 2026 guidance at 2.000-2.100 EPS. As a group, equities research analysts predict that Steven Madden, Ltd. will post 2.09 earnings per share for the current fiscal year.
Steven Madden Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, June 19th. Stockholders of record on Monday, June 8th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.8%. Steven Madden’s dividend payout ratio is presently 80.00%.
About Steven Madden
Steven Madden, Inc (NASDAQ: SHOO) is a New York–based designer and marketer of fashion footwear, handbags and accessories. The company’s product portfolio spans a range of contemporary and lifestyle brands for women, men and children, including its core Steve Madden label as well as the Madden Girl and Dolce Vita brands. In addition to footwear, the company licenses its trademarks for use on apparel, eyewear and other fashion accessories.
Steven Madden distributes its products through multiple channels, including wholesale partners, e-commerce platforms and its own brick-and-mortar retail stores.